Multi-coin Wallet Provider Holytransaction Shuts Down

Holytransaction S.A., a Luxembourg-based universal digital currency wallet provider with an integrated exchange, instructed all of its clients to withdraw available balances as the company will be ceasing operations by the end of this month.

The firm was launched in 2014 by Andrey Zamovskiy, Francesco Simonetti and Nickolay Babenko with a $25,000 seed funding round. The service was aimed at non-technical consumers, who were looking to dabble in digital currencies but did not want to deal with the intricacies maintaining multiple wallets for different digital assets.

The Holytransaction multi-currency wallet supported Bitcoin, Litecoin, Peercoin, Dogecoin, Dash, Blackcoin, Tether, Omni and science-oriented virtual currency Gridcoin, which was added on September 23, 2015. However, some members reported problems with the service and lack of communication and customer support.

In today’s statement, Holytransaction cites lack of additional investment in the company as one of the principals reasons for the closure:
“We’ve got some investments to keep development of the service. So far our investments are finished and we neither have any significant income neither new round of investments to keep this service running.“